Helweg/Stendahl value charts ... - page 4
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This one is made at the request from simba
Instead of using fixed +8,+4,-4 and -8 level this one is using dynamic zones for levels (including the "zero line" - the zero line is calculated as a dynamic zone too). Some explanation as of how the ones are calculated is necessary :It is done so in order to be able to identify high and low prices penetrating the zones (which is the primary goal of value charts) At a first glance it seems that it is OK (in some cases I can not believe what is it showing, but will let you all see and find out for yourself what is it all about - just a hint : see when some penetrations are happening on a dynamic zones (the time of those penetrations), but it all needs actual testing and confirmation from a real time work in order to use it in real time trading)PS: had to remove averages from this one (will try to find out some solution that will include them, but for now it does not look that with 5 zones it will be possible)____________________________________
to pietergvp : answering just the part about the speed - bars are drawn as objects in this one (no other way to draw bars in a separate window using metatrader 4) and unfortunately, when it comes to objects, metatrader tends to slow down significantly when there is a lot of objects. Since in this one there are 2 objects per each bar, if you use large number for "Max bars on chart" (in the tools->options->charts) then you are going to end up in a problem. I am using 5000 bars and it is enough for any of my "visual" tests. Back tests and similar do not depend on that setting, so you can easily use that number of bars and not suffer any loss of information in back tests (and it will speed up significantly some of the work metatrader does)
This one is made at the request from simba Instead of using fixed +8,+4,-4 and -8 level this one is using dynamic zones for levels (including the "zero line" - the zero line is calculated as a dynamic zone too). Some explanation as of how the ones are calculated is necessary :It is done so in order to be able to identify high and low prices penetrating the zones (which is the primary goal of value charts) At a first glance it seems that it is OK (in some cases I can not believe what is it showing, but will let you all see and find out for yourself what is it all about - just a hint : see when some penetrations are happening on a dynamic zones (the time of those penetrations), but it all needs actual testing and confirmation from a real time work in order to use it in real time trading)PS: had to remove averages from this one (will try to find out some solution that will include them, but for now it does not look that with 5 zones it will be possible)
____________________________________
to pietergvp : answering just the part about the speed - bars are drawn as objects in this one (no other way to draw bars in a separate window using metatrader 4) and unfortunately, when it comes to objects, metatrader tends to slow down significantly when there is a lot of objects. Since in this one there are 2 objects per each bar, if you use large number for "Max bars on chart" (in the tools->options->charts) then you are going to end up in a problem. I am using 5000 bars and it is enough for any of my "visual" tests. Back tests and similar do not depend on that setting, so you can easily use that number of bars and not suffer any loss of information in back tests (and it will speed up significantly some of the work metatrader does)Mladen,
For lack of a better word these things money in the bank, especially on renko!
Thanks a lot!!!!!!
Hi mrtools,
Yes, agree - it is very good indicator.
I just spent 20 minutes and made 315 dollars using this indicator only (first 2 trades in the statement are not related to those scalping value chart indicator).
It is very good for scalping
I understand that ... may be ... this indicator was not created for scalping but I think - can be used for it.
In one of my posts I told that David Stendahl can not help himself, and that everything he touches is worth a deep look.
The dynamic zone value chart is, just to remind, a combination of two ideas that David Stendahl was a significant part of (value chart and dynamic zones) and I think we all should thank him (and Mark Helweg and Leo Zamansky of course, but David Stendahl is the one that took part in both idea development)
And, of course, thanks to simba for bringing up the idea of combining these
Renko Charts
Mladen, For lack of a better word these things money in the bank, especially on renko!
Hi there. I have been looking at these charts and I must agree. They are awesome! Can you please tell me where I can find renko?
Hi mrtools,
Yes, agree - it is very good indicator.
I just spent 20 minutes and made 315 dollars using this indicator only (first 2 trades in the statement are not related to those scalping value chart indicator).
It is very good for scalping
I understand that ... may be ... this indicator was not created for scalping but I think - can be used for it.Hi There New Digital. I am trying to duplicate what you are doing but the Dynamic zone Value Charts are not showing. The other one without the dynamic zones is fine but the Dynamic zone Value Charts are not showing. What do I do wrong?
If it is Dynamic Zone type of indicator so you need dynamicZone.dll in library folder (of your Metatrader directory).
This dll file should be inside zip attachment on this post.
This one is made at the request from simba Instead of using fixed +8,+4,-4 and -8 level this one is using dynamic zones for levels (including the "zero line" - the zero line is calculated as a dynamic zone too). Some explanation as of how the ones are calculated is necessary :It is done so in order to be able to identify high and low prices penetrating the zones (which is the primary goal of value charts) At a first glance it seems that it is OK (in some cases I can not believe what is it showing, but will let you all see and find out for yourself what is it all about - just a hint : see when some penetrations are happening on a dynamic zones (the time of those penetrations), but it all needs actual testing and confirmation from a real time work in order to use it in real time trading)PS: had to remove averages from this one (will try to find out some solution that will include them, but for now it does not look that with 5 zones it will be possible)
____________________________________
to pietergvp : answering just the part about the speed - bars are drawn as objects in this one (no other way to draw bars in a separate window using metatrader 4) and unfortunately, when it comes to objects, metatrader tends to slow down significantly when there is a lot of objects. Since in this one there are 2 objects per each bar, if you use large number for "Max bars on chart" (in the tools->options->charts) then you are going to end up in a problem. I am using 5000 bars and it is enough for any of my "visual" tests. Back tests and similar do not depend on that setting, so you can easily use that number of bars and not suffer any loss of information in back tests (and it will speed up significantly some of the work metatrader does)sorry nevermind
Hi there. I have been looking at these charts and I must agree. They are awesome! Can you please tell me where I can find renko?
Know i called them Renko bad habit of mine, but they are Range bars got them from here
Renko & Tick bars Plugin for MT4
might be time we have our own in Advanced Elite
Reliability - our own version
I agree! I think it would be wonderful. I am using Constant range bars and have been using them for quite some time. They are good but I don't have the .mq4 files and codes for it. It was a "free" gift from a site who wants to sell a lot of stuff to me. And I am not interested
. But I would like to have our own code so that it is reliable with no hidden problems.
How reliable is the ones you are using now?